Element selection can be one of the more challenging parts of preparing XBRL filings. With SEC guidance like “Filers should select elements after a thorough search of the standard taxonomy and careful consideration of elements’ standard definitions, standard labels, and other attributes.” (SEC Staff Observation from October 6, 2009) and “Filers should concentrate more effort in the area of finding existing USGAAP elements so as to avoid creating custom elements.” (SEC Staff Observation from November, 1 2010), navigating approximately 15,500 elements may seem like daunting task. With the right tools and knowledge of how to utilize the taxonomy, element selection feels natural. Read the rest of this entry »